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    5172 Central Ave Portage, IN 46368

    Pending
    For Sale
    $249,900

    MULTI_FAMILY - Portage, IN

    Lot size:
    0.50 Acres
    Days on Market:
    28
    Last Refresh:
    Dec 11 at 3:06 pm

    Property Features for 5172 Central Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Pending
    Rooms
    Bedroom 3, Bedroom 4, Bedroom 5, Bathroom 1, Bedroom 2, Bathroom 2, Bedroom 1
    Bedrooms
    5
    Bathrooms
    2
    APN
    640515176007000016
    Interior features
    Ceiling Fan(s)
    Exterior features
    Private Yard
    Basement
    Unfinished
    Appliances
    Gas Range, Refrigerator
    Lot size
    0.50 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Forced Air, Natural Gas
    Water source
    Public

    Building Details

    Year built
    1933
    Floors in Building
    2

    Listing Leaders (219) 299-7117 [email protected]

    Listing agent Charles Vanderstelt (219) 309-6098

    Listing date Nov 14, 2025

    Copyright © 2025 Greater Northwest Indiana Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Portage Two-Unit Investment Property

    This two-unit property in Portage presents an opportunity to start or expand a real estate investment portfolio. The main level unit features two bedrooms and one full bathroom, while the upper level unit offers three bedrooms and one full bathroom. Both units are in good condition and have received recent interior updates. The units are currently occupied with leases extending into spring and summer 2026. The two-bedroom unit is leased at $1,100 per month, and the three-bedroom unit is leased at $1,200 per month. Situated on a main thoroughfare, the property benefits from excellent visibility. The lot size is approximately one-half acre (0.4984 acres), providing ample space for potential additions such as storage or a garage, which could increase the property's value and rental income. Tenants are responsible for water, electricity, and natural gas expenses, while the landlord covers sewer and stormwater expenses. The property is located in Portage, Indiana.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Restaurant Law Firm Spa & Massage Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop Gym & Fitness Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Portage
    County
    Porter
    State
    Indiana
    Longitude
    -87.215591
    Latitude
    41.575241

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    FAQs

    What type of property is this?
    Duplex - Two-unit property in Portage with updated interiors and long-term leases.
    Where is this duplex located?
    The property is located at 5172 Central Ave Portage, IN.
    What is the asking price?
    The asking price for this property is $249,900.
    What are key features of this property?
    This property features: - Two-unit property provides immediate rental income.; - Leases in place until Spring/Summer 2026.; - Combined rental income of $2,300 per month.
    (219) 309-6098
    Request Owner's contact information
    5172 Central Ave Portage, IN 46368
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    5172 Central Ave Portage, IN 46368
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